Illinois Teachers' Retirement System, Springfield, will interview finalists in February for a manager to run $180 million in core fixed income, part of the $28 billion system's ongoing restructuring. Gordon Dickinson of Callan's Chicago office is the plan's consultant and will assist in the search.
Separately, three managers were kept on the fund's automatic watch list for performance: Capital Guardian Trust, $512 million in active international equities; NorthPointe Capital, $343 million in active U.S. small-cap to midcap equities; and Great Lakes Advisors, $51 million in active U.S. large-cap value equities. International equity manager INVESCO and large-cap growth equity manager MFS were placed on watch for organizational reasons connected with recent mutual fund market-timing allegations. INVESCO manages $608 million, while MFS runs $617 million.